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July/August 2009 |
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FYI... Market Update and Real Estate Trends
Knowing the right name is important. What is the difference, in government securities, between a "bill", a "note", and a "bond"? Usually "bills" are anything with a maturity of 1 year or less, a "note" matures between 1 year and 10 years, and a bond is longer than 10 years. Yesterday we had the Treasury auction off $35 billion of 3-yr notes. Simply put, it went well. On top of that, the government was in buying their usual amount of $4-5 billion a day of mortgage origination. And today we have $19 billion of 10-yr notes to buy.
Prepayment "speeds" were announced, and interestingly enough the higher mortgage rates are prepaying at a slower rate than was expected. Since lenders don't want to have their higher-rate mortgages prepaying too fast, and then have to invest the money at a lower rate. Also if it is perceived that mortgages, in general, are going to prepay at slower rates (even if it is due to many folks already having a low rate, and those with higher rates don't have the FICO, the value, or can't qualify), and borrowers are making their payments, look of investor interest to pick up a little, helping mortgage prices relative to Treasury prices. Mortgage applications filed last week were up almost 11% from the week before, according to the MBAA. Refinancing was up over 15% prior to the 4th of July weekend, and purchases were up 6.7%. All round having these positive numbers is a great impact on our economy.
 Anny Havland
License # 510-LO-35892
Co-owner/Licensed Mortgage Advisor
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Lender Deals!
Doug Eagle - Mortgage Loan Officer
 Bank of America is now offering two loan saving programs; the "Summer Sizzle Special" and the "Dog Days of Summer." The Summer Sizzle Special is a way to save 1/2% off a Fixed Conventiaonal Purchase Loan and the Dog Days of Summer may save you 1% off a fixed rate FHA or VA Purchase loan. These deals expire August 30th, so contact Doug Eagle today to take advantage of this great offer! Doug.e.eagle@bankofamerica.com (360)-303-3376
Rich Brown - Mortgage Consultant
Network Mortgage Services is a Direct Endorsed FHA/VA lender, they process USDA/State Bond Loans and also finance manufactured housing.Rich Brown is very competitive on rates and his customer service is outstanding, He is always available by cell during the day or in the evening and you will never wonder where you are in the loan process. If you have any questions or concerns please feel free to contact Rich anytime. RichB@networkhomeloans.com
Anny Havland - Licensed Mortgage Advisor
102% Financing based on appraised value, if appraised value exceeds sales price, borrower can finance closing costs! No monthly mortgage insurance, 1-time guarantee fee of 2% that can finance above the appraised value.No asset requirements.No first time homebuyer restrictions.No minimum cash contribution from borrower.6% seller concessions and 100% gifting is allowed - Your borrower can purchase a home with no money of their own into the transaction. Up to 10k in repairs can be financed. Brand new manufactured homes are allowed.
Geographic and income restrictions apply. Anny@Neighborhoodmortgage.net |
Visit Our Resource Center
On Our Website you will find more market information including...
2009 Market Trends, Insider's Look to the Real Estate Market and much more!
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Want to Learn More?
If you would be interested in attending an informational meeting regarding financing options please let us know! We are trying to find a date that works best for you, so please email us what date and time might work best with your schedule.
We hope to help navigate you through the real estate industry.
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Community Update: Ferndale 
Just a few miles north of Bellingham you will find the vibrant and growing community, Ferndale. Situated on the banks of the Nooksack River, Ferndale features an inviting downtown with many locally owned shops and dining options from which to choose. Pioneer Park has one of the finest collections of original pioneer log cabins and artifacts in the world. Hovander Homestead Park is a great place to visit and is steeped in cultural history and natural beauty.
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NWMLS Stats:
Northwest Multiple Listings
Whatcom County
Closed Sales Report - Residential
June 2009
Residential Average Price Median Price
26 $285,297 $279,000
Click Here to View Archived Statistics on all of Whatcom County |
 
4088 Mt Baker Hwy, Everson
$485,000
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238 Shallow Shores $630,000
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4951 Henley, Birch Bay
$169,900
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79XX Kickerville Rd, Blaine
$149,000
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Monthly Payment Rate Sheet
Based on a Purchase Price of $250,000
30 Year Fixed:
Payment $1,058.42
Points 1.00%
% Down 20 %
Rate 4.875%
APR 5.10%
15 Year Fixed:
Payment $1,517.24
Points 1.00%
% Down 20%
Rate 4.375%
APR 4.756%
Comments & Explanations:
Let me compete for your business. Payments do not include homeowners insurance and property taxes. Loan Originator License # 510-LO-35892. To apply online visit me at www.neighborhoodmortgage.net/anny
* Please note that this illustration requires that you put a minimum 20% down. No ARMS or Balloons. Only conforming 30 Yr. Fixed Rates. This information is provided for illustration only and does not constitute an application does not guarantee loan approval, nor is it an offer or commitment to make a loan to you on the above terms. This is not a commitment or an offer to extend financing as defined by Federal Reserve Regulation Z - Truth in Lending and as such does not contain an APR. Interest Rates are subject to change daily without notice and will affect the loan amount for which you may qualify
Anny Havland
Neighborhood Mortgage
License # 510-LO-35892 Co-owner/Licensed Mortgage Advisor 360-594-4030-Direct 360-671-8043-Fax "Cheers to continued great lending rates." | |
